Alico Inc. reported its fourth‑quarter and full‑year 2025 financial results, posting a net loss attributable to common stockholders of $147.3 million for the year ended September 30, 2025. Adjusted EBITDA for the year reached $22.5 million, exceeding the company’s $20 million guidance and underscoring progress in its transition away from citrus production toward a diversified land‑management model.
In the fourth quarter, Alico generated revenue of $802,000, a decline from $935,000 in the same period a year earlier, but a significant beat over the consensus estimate of $300,000. The quarter’s earnings per share were $-1.11, a miss of roughly $0.72 against the $-0.39 estimate. The miss was driven by one‑time non‑cash charges, including $162.7 million in accelerated depreciation and $25 million in asset impairments related to the wind‑down of citrus operations.
For the full year, revenue totaled $44.1 million, down 5.5% from $46.6 million in 2024, while the net loss widened to $147.3 million, or $19.29 per diluted share. Adjusted EBITDA of $22.5 million surpassed the $20 million target, reflecting the company’s ability to generate cash flow from its land portfolio even as legacy citrus revenue declines.
Cash and cash equivalents rose to $38.1 million, and net debt fell to $47.4 million, strengthening the balance sheet and providing liquidity to fund ongoing land monetization and development projects. Land sales for the year reached $23.8 million, exceeding the $20 million goal and demonstrating the effectiveness of Alico’s land‑sale strategy as it reallocates assets toward higher‑margin uses.
President and CEO John Kiernan said the results “highlight the progress of our transformation from a traditional citrus producer to a diversified land company.” He noted that 25 % of the company’s holdings are earmarked for development, while 75 % remain in agricultural leasing, positioning Alico for both near‑term returns and long‑term growth. CFO Bradley Heine added that the company’s cash position will support operations through fiscal 2027, even as it continues to incur the costs of restructuring and development.
Investors reacted neutrally to the release. While the earnings miss and large non‑cash charges tempered enthusiasm, the company’s ability to beat revenue estimates, exceed adjusted EBITDA guidance, and maintain a strong cash balance mitigated a more negative market response.
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